Coke Promises Cost Cuts as Profit Falls

Beverage Giant Warns It Won’t Meet Previous Financial Targets

In February, Coca-Cola Co. chief executive Muhtar Kent said this was to be the company’s “year of execution,” promising a recovery from last year’s missed targets and a return to normal growth rates by year-end.

Instead, on Tuesday, Mr. Kent delivered a weak third-quarter report showing that Coke continues to flail around for a solution to the shrinking ranks of soda drinkers in the U.S., China, Brazil and elsewhere.

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